Friday, 26 Feb 2021

Jeff Bezos net worth as he overtakes Elon Musk as richest person in the world

Following a 2.4% drop in Tesla shares, Elon Musk has been dethroned of his richest person in the world crown, being replaced by Amazon CEO Jeff Bezos.

This is not an unfamiliar position for Bezos, he was the richest person in the world from late 2017 until last month, when Tesla and SpaceX founder Musk briefly toppled him.

However, Musk saw his net worth plummet by $3.9billion (£2.8billion) on Tuesday after Tesla shares closed at $796.22 (£574.2) and normality resumed with Bezos back in top spot.

The majority of the Amazon founder's personal wealth is actually tied to the value of Amazon stocks, which has skyrocketed in recent years along with the company’s share price.

Currently, Jeff Bezos' net worth sits at a staggering $190.3billion (£137.2billion).

During the first month of the pandemic alone between March and April 2020, Amazon said it hired 175,000 additional workers.

This may have been required due to drastic increase in people ordering items due to the inability to shop where they usually would.

Bezos has broken numerous financial records in recent years – as recently as last August he became the first person to see his net worth surpass the $200billion (£144billion) mark, while in 2018 Bezos became the world’s richest man in recent history after his personal wealth went beyond $150billion (£108billion).

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The business mogul reclaims his status as the wealthiest person on the planet just as he prepares to walk away from his role as Amazon CEO. Earlier this month Bezos confirmed he would be stepping down and handing the reigns over to Amazon’s top cloud boss Andy Jassy.

It won't be a clean break from the business, as Bezos is still expected to keep tabs on Amazon's progress, but his departure will mean he has more time to devote to other projects, including his Blue Origin rocket company and The Washington Post – the publication he bought in 2013.

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